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Revenues were up 5.3% over 2022, however the Company increased expenditures in several categories resulting in the overall net loss. R&D was up 73.3% to
Annual Revenue & Gross Profit
12 months ended 31 December | 2023 | 2022 | % change |
Contract research fees Product sales Other revenue | 955,056 227,576 | 890,324 219,252 16,237 | +7.27% +3.80% |
Gross revenue | 1,182,632 | 1,125,813 | +5.05% |
Cost of sales | 370,989 | 346,304 | +7.13% |
Gross profit Gross profit % | 811,643 | 779,509 69.24% | +4.12% |
Operating Expenses & Net Income
12 months ended 31 December | 2023 | 2022 | % change |
General & administrative Sales & marketing Research & development Grants Fair value gain on adjustment on financial instruments | 1,011,093 29,365 192,290 (41,434) (102,000) | 830,608 1,912 110,980 | +21.73% 1435.83% +73.27% +76.00% |
Operating expenses | 981,424 | 919,958 | +10.04% |
Interest expense | (557) 12,756 | (5,016) | -88.90% +42.46% |
Net income (loss) | (157,582) | (136,511) | -15.44% |
About
Director & CEO
604-239-1819
This document may contain forward-looking statements that are predictive in nature and subject to risks and uncertainties that cannot be predicted or quantified; consequently, actual results may differ materially from past results and those expressed or implied by any forward-looking statements. Factors that could cause or contribute to such risks or uncertainties include, but are not limited to: the regulatory environment including the difficulty of predicting regulatory outcomes; changes in the value of the Canadian dollar; the Company’s reliance on a small number of customers including government organizations; fluctuations in operating results; government policies or actions; progress and cost of clinical trials; reliance on key strategic relationships; uncertainty related tointellectual property protection and potential costs associated with its defense; the Company’s exposure to lawsuits and other matters beyond the control of management. Should known or unknown risks or uncertainties materialize, or should management’s assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly make or update any forward-looking statements, except as required by applicable law.
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Copyright (c) 2024 TheNewswire - All rights reserved., source